by Lacey Pfalz
Last updated: 10:20 AM ET, Mon February 26, 2024
Marriott International saw an expansive growth of its business across Latin America and the Caribbean in 2023, an important segment that drove its overall record business and development pipeline for the year.
The company has nearly doubled its number of organic deal signings from 2022, with 57 signings and 24,000 rooms in its development pipeline in the region.
The region alone welcomed over 170 properties across Marriott’s portfolio, with another 155 properties in its pipeline at the end of the year. Part of this growth was its acquisition of the City Express brand, which offers 150 hotels across Mexico, Costa Rica, Colombia and Chile. Thirty-five percent of Marriott’s room signings were conversions, including Villa Lapas, Autograph Collection and Aloft Guadalajara Country Club.
Additionally, Marriott expanded its luxury hotels and resorts worldwide, and especially so in the Caribbean and Latin America region. It’s currently developing 34 luxury properties in the region, and recently opened The Riviera Maya EDITION at Kanai and The St. Regis Kanai Resort.
With 31 all-inclusive properties and 18 in its pipeline, Marriott is quickly growing its all-inclusive portfolio, and the region is perfect for the growth of this resort style. Expected openings in 2024 are the W Punta Cana, All-Inclusive and Almare, a Luxury Collection All-inclusive Resort in Isla Mujeres.
Branded residences are growing in popularity, and Marriott currently offers fifteen different branded residences across eleven different markets. It’s expected to welcome new residences this year at The St. Regis Kanai Resort, Nekajui, A Ritz-Carlton Reserve Residence in Costa Rica and more.
“We are pleased to report a great year of growth for Marriott in the CALA region, with strong development activity in 2023,” said Laurent de Kousemaeker, Chief Development Officer for Marriott International in the Caribbean and Latin America.
“With continuing momentum in conversions, and our ongoing expansion across numerous segments, including luxury and all-inclusive, we remain focused on providing our guests and owners with more best-in-class options,” continued de Kousemaeker. “We see exceptional opportunities in the region across all segments, but particularly in midscale with the new City Express by Marriott brand, opening up fresh possibilities in this segment throughout the region.”
For the latest travel news, updates and deals, subscribe to the daily TravelPulse newsletter.
Topics From This Article to Explore
